Trusted property data and insight is critical for estates directors and senior business leaders to make informed decisions.
Estates Directors and their teams charged with the responsibility of managing large, complex estates face multiple challenges in normal times:
- budgetary position;
- quality versus cost;
- compliance of the estate;
- net zero targets;
- space management
- Investment / disinvestment
The longer term impact of the ongoing COVID-19 pandemic is yet to play out, but one thing is for certain, the role and profile of estates and workplace management will continue to be in the spotlight with tightening budgets, questions over the future function of the workplace, employee welfare, diversity and inclusion all on estates teams’ roadmap.
Credible, accurate and managed data, analysis, and insight lies at the heart of solving the challenges listed above, but how ready and able are estates and property management teams currently? Are they able to rely upon data currently collated?
The challenges associated with collecting and managing accurate, consistent data is complex and requires a lot of thought and the resource to harvest.
Data requirements are generally dynamic in nature, with specific data being required at given times, and in line with situations organisations find themselves facing. This has been demonstrated time and time again from the start of the COVID-19 pandemic.
Using our data validation and collection expertise, coupled with our professional front line property management knowledge, we are able to assess the level of a client’s situation in terms of data and information maturity and advise as to the most appropriate datasets to collate. Working together, we set out a clear roadmap to ensure that trusted data, combined with the confidence to interrogate and rely upon it, becomes the norm within the organisation.
Confidence in data creates the foundation for the provision of information, informing know how and ultimately leading to wisdom in decisioning, as demonstrated in the DIKW pyramid:
- DATA
- INFORMATION
- KNOWLEDGE
- WISDOM
As the pyramid leading to wisdom in decisioning is simultaneously being developed vertically and horizontally, focusing on related areas first can potentially affect the greatest initial impact as opposed to focusing on standalone individual aspects.
Getting to a “single source of truth’ requires a relentless focus on the detail – understanding and setting up the basics initially, putting in place strong governance, maintaining a clear vision of where the organisation is going, and probably the hardest to achieve, creating and maintaining a data-driven culture throughout the whole estate management team.
The EFM data validation and collection service starts with a meeting to discuss your end goal / key objectives with a view to engineering a data set and collection methodology to suit. Any data you collate requires a robust management framework against which to maintain accuracy post alteration and we can help you to create that framework and policy via our space data policy service.
If you are looking to collect data for your estate, we would be delighted to have a conversation with you in the first instance.
